SA Crypto exchange ChainEX releases instant automatic trade-on deposit feature

By September 2, 2021Polkadot
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SA cryptocurrency exchange ChainEX has officially released an instant trade-on deposit feature allowing traders using the exchange to automatically offer trades executed once deposits clear. This helps one repeatedly buy assets and set up a schedule where an automatically chosen cryptocurrency is purchased at regular intervals. ChainEx also made a decision to allow traders and residents from countries to access ZAR markets on their exchange.

The cryptocurrency exchange offers South Africans a chance to buy, sell, and trade different cryptocurrencies in exchange for the rand to remain as the default currency. ChainEx also partnered with OKEx in 2020 announcing that the official opening of the DOGE/ZAR markets.

The move follows a rise in numbers where residents of other countries are allowed to make ZAR deposits and withdrawals including the trading in SA markets in BTC/ZAR. ChainEX also listed SUSHI, Cardano (ADA), and Polkadot coins. This exchange is the only one in South Africa which has listed Yearn Finance, Uni, and 1inch.


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Africa-focussed investment fund manager Amethis has closed EUR 85 million for the Amethis Mena Fund II targeting SMEs across MENA. AMFII has support from top development finance institutions such as Proparco via FISEA, the European Investment Bank (EIB), the International Finance Corporation (IFC), and the European Bank for Reconstruction and Development (EBRD).

Amethis Mena Fund II will target majority and minority investments ranging EUR 5-15 million from fast-growing SMEs in Egypt, Morocco, Tunisia, and Jordan. This is the second Athemis’ SME Mena fund and fifth overall fund.

The previous AMF 1, formerly NAV II, was a Maghreb SME fund that Amethis took over in 2018 turned around successfully. A large range of qualified private investors alongside the Edmond de Rothschild Group represent a third of the first closing.

In the press release, Luc Rigouzzo, and Laurent Demey, the co-founders described Amethis as an “important strategic milestone” building on our “strong presence in Morocco and existing strategy of backing successful entrepreneurs.”

AMF II has invested in Magriser a – Moroccan distributor of micro-irrigation systems. The fund will be led by Adnane Zerhouni, Wilfried Poyet, and Toufic Khoueiry who are well-versed in the region’s markets.

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LoftyInc Capital Management Inc is an early-stage Africa-focussed technology fund that has achieved the first close of its LoftyInc Afropreneur Fund 3 that attracted heavy participation from African High Net Worth Individuals and Millenials, startup founders, and other institutions.

The LoftyInc Afropreneur Fund 3 is a $10 million fund that comes off the success of the LoftyInc Afropreneurs Fund 2 (LAF2) which made its first unicorn exit through the investment in Flutterwave. As a technology fund LAF3 will invest in Seed-to-Series A tech-driven companies that are building the future for Africa’s digital infrastructure while banking on strong local and regional support.

Founding Partner at LCM, Idris Ayodeji Bello expressed excitement on the “strong investment participation among young Africans and founders.”

To date, LAF3 has invested in 25 companies across the sectors of e-commerce, media, fintech, logistics, and healthcare. As a pan-African fund, the investment focus is primarily fixated on hypergrowth ecosystems such as Egypt, Nigeria, Francophone Africa, and other promising tech solutions from the larger African diaspora. Initial check sizes are at $50,000–$250,000, accompanied by follow-ons of up to $1M in the portfolio companies.

LoftyInc Capital Management is led by a team with 70 plus years in combined venture operational experience in addition to a strong 11-year track record. It is run by general partners Idris Bello, Michael Oluwagbemi, and Marsha Wulff, who all carry 12 plus tears of experience investing in Africa and the diaspora.

Besides this team, LoftyInc has an extensive on-the-ground network of local, multi-sector expertise fixated on pre-investment pipeline screening and accompanied by due diligence. This local expertise closely collaborates with international venture partners in unlocking high-value post-investment portfolio support.

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